ShareVault enables an organized repository for sharing business-critical documents with external users. In this article, we will discuss the functionality of the ShareVault data room, its pros and cons.
The purpose of using ShareVault data room
ShareVault offers secure, cloud-based document sharing solutions, also known as virtual data rooms, that are frequently used by organizations of all types to securely share highly confidential documents with outside parties. In contrast to consumer-grade file-sharing services, ShareVault allows organizations to easily share documents with third parties while monitoring access and maintaining control.
Digital data rooms work by letting corporate users store and access lots of documents in the cloud, in a secure environment. They’re good for confidential transactions where large amounts of data have to change hands, such as in private equity mergers and acquisitions, initial public offerings, audits, and legal cases.
Another important function of the ShareVault system that makes sense to pay attention to is the ability and ease of setting up a document card, and ideally, the ability to support several different types of cards. The fact is that the system may contain several types of documents, which are described by various attributes. For example, design documentation will differ significantly in its attributes from an accounting document.
Because different users can modify the same documents, the question arises as to what changes the user made to the document. It is also sometimes important to view the entire history of document changes: when and who edited the document, what exactly was corrected in the document. To solve such problems, the ShareVault data room stores all versions of documents. Each version indicates the author of the changes, the date of the changes, so you can always find out when and what changes were made.
The best ShareVault alternatives
ShareVault and other software vendors have spotted an important possibility, as companies seek to exclude paper and transfer as much information into the online format as possible. Today, the IT market is flooded with programs from various developers designed to automate workflow. Similar functionality is available in most data room providers.
There are the following ShareVault alternatives:
For companies that have a large volume of incoming documents, it is important to organize a fast process for processing incoming documents. And if the electronic document management can stream scan and recognize documents, this will greatly simplify the work.
ShareVault pros and cons
ShareVault data room provides the following benefits:
- Quick access to a certain category of documents. A significant advantage of electronic document management is the quick access of a certain category of employees to information subject to certain restrictive frameworks. The user can simply and quickly search for documents to which he has been granted access.
- Differentiation of access to the database and joint processing of documents. Workflow automation provides users with the opportunity to organize only one database, which will contain the documents necessary for the organization to carry out its functions.
- Comprehensive nature of document control. Any of the documents brought into the electronic document management acquires its history. All operations performed with this document, all employees working and working with this document, are recorded in special registers and stored there for as long as necessary.
- Automation of office work and document flow. Automated reporting of the movement of documents among departments of the organization is another indisputable advantage.
- The data room allows you to search for a specific document in the database according to certain criteria.